Learning College Manual

Fiscal

Bookstore Operating Profits

The policy of the Isothermal Community College Board of Trustees regarding the amount of mark-up to be charged users of the college bookstore and the uses to which funds in excess of operating expenses may be applied is as follows: Mark-up of new books, supplies and other merchandise sold in the college bookstore shall not exceed twenty percent (20%) of the cost. The Bookstore may also engage in the purchase and resale of used textbooks. Pricing for used textbooks will be determined by competitive market conditions. To ensure that student costs are held to a minimum, the college administration shall biennially review bookstore profits to determine whether a reduction or an increase in mark-up is necessary. Bookstore funds may be used for bookstore operating expenses including, but not limited to, salaries, supplies, travel, materials, operating resources, and equipment associated with the operation, support and enhancement of the bookstore. Funds in excess of these operating expenses may be used in support of (a) student aid and/or scholarships, (b) other expenditures of direct benefit to students (e.g., funding of positions for financial aid and student activities, etc.) and (c) other similar expenses authorized by the Board of Trustees (e.g., new faculty positions for start up of new programs, counselors, equipment, construction, etc.). All expenditures shall be consistent with the mission and the purpose of Isothermal Community College.

Policy No: 701-03-00BP

Reference:Cross Reference:Adopted: April 1965Amended: May 1984; November 1986; November 1987; November 1989; November 13, 1990; May 11, 1993; July 1993; August 2005; February 14, 2006; May 8, 2007; November 13, 2007